13 Amendments of Dorien ROOKMAKER related to 2021/0241(COD)
Amendment 87 #
Proposal for a regulation
Recital 5
Recital 5
(5) In order to facilitate their criminal activities, money launderers and financers of terrorism are likely to take advantage of the freedom of capital movements within the Union's integrated financial area unless certain coordinating measures are adopted at Union level. International cooperation within the framework of FATF and the global implementation of its recommendations aim to prevent money laundering and terrorist financing while transferring funds or crypto-assets . Crypto- assets can be traced through immutable and constant record. This will make law enforcement without excessive administrative burdens for customers and service providers possible.
Amendment 93 #
Proposal for a regulation
Recital 13
Recital 13
(13) In addition, the Commission Action Plan of 7 May 2020 for a comprehensive Union policy on preventing money laundering and terrorism financing41 identified six priority areas for urgent action to improve the Union’s anti-money laundering and countering financing of terrorism regime, including the establishment of a coherent regulatory framework for that regime in the Union to obtain more detailed and harmonised rules, notably to address the implications of technological innovation and developments in international standards and avoid diverging implementation of existing rules. Work at international level suggests a need to expand the scope of sectors or entities covered by the anti-money laundering and countering financing of terrorism rules and to assess how they should apply to virtual assets service providers not covered so far. Crypto-assets are increasingly diverse. Like in traditional finance, some products may be riskier, but others have put AML risk-management at their core. The AML regulation should reflect this principle of non-discrimination in its provisions. __________________ 41 Communication from the Commission on an Action Plan for a comprehensive Union policy on preventing money laundering and terrorist financing (C(2020) 2800 final).
Amendment 99 #
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) Most crypto-asset transactions are pseudonymous and transparent, and therefore, present a lower risk of money laundering and terrorist financing due to the inherently transparent and immutable nature of blockchain technology which makes it easier to trace crypto-asset transactions;
Amendment 112 #
Proposal for a regulation
Recital 22
Recital 22
(22) In order not to impair the efficiency of payment systems and crypto-asset transfer services , and in order to balance the risk of driving transactions underground as a result of overly strict identification requirements against the potential terrorist threat posed by small transfers of funds or crypto-assets , the obligation to check whether information on the payer or the payee , or, for transfers of crypto-assets, the originator and the beneficiary, is accurate should, in the case of transfers of funds where verification has not yet taken place, be imposed only in respect of individual transfers of funds or crypto-assets that exceed EUR 15000, unless the transfer appears to be linked to other transfers of funds or transfers of crypto-assets which together would exceed EUR 15000, the funds or crypto-assets have been received or paid out in cash or in anonymous electronic money, or where there are reasonable grounds for suspecting money laundering or terrorist financing.
Amendment 140 #
Proposal for a regulation
Recital 45 a (new)
Recital 45 a (new)
(45a) Crypto-asset service providers should be exempted from the requirement to ensure that transfers of crypto-assets are accompanied by detailed information on both the originator and beneficiary of the transfers if they can demonstrate that they have implemented technical measures which pursue the same objectives of the Regulation and provide an equivalent level of prevention against money laundering and terrorist financing. For a technical measure to be considered as achieving an equivalent level of prevention against money laundering and terrorist financing, competent authorities should consider the extent to which they are capable of identifying and tracing illicit activities and identifying suspicious accounts.
Amendment 141 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation lays down rules on the information on payers and payees, accompanying transfers of funds, in any currency, and the information on originators and beneficiaries, accompanying transfers of crypto-assets, for the purposes of preventing, detecting and investigating money laundering and, terrorist financing and avoidance of EU sanction, where at least one of the payment or crypto-asset service providers involved in the transfer of funds or crypto- assets is established in the Union.
Amendment 191 #
Proposal for a regulation
Article 5 – paragraph 2 – point a
Article 5 – paragraph 2 – point a
(a) for transfers of funds exceeding EUR 15000, whether those transfers are carried out in a single transaction or in several transactions which appear to be linked, the information on the payer or the payee in accordance with Article 4;
Amendment 195 #
Proposal for a regulation
Article 5 – paragraph 2 – point b – introductory part
Article 5 – paragraph 2 – point b – introductory part
(b) for transfers of funds not exceeding EUR 15000 that do not appear to be linked to other transfers of funds which, together with the transfer in question, exceed EUR 15000, at least:
Amendment 200 #
Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 1 – introductory part
Article 6 – paragraph 2 – subparagraph 1 – introductory part
By way of derogation from Article 4(1), and, where applicable, without prejudice to the information required in accordance with Regulation (EU) No 260/2012, where the payment service provider of the payee is established outside the Union, transfers of funds not exceeding EUR 15000 that do not appear to be linked to other transfers of funds which, together with the transfer in question, exceed EUR 15000, shall be accompanied by at least:
Amendment 234 #
Proposal for a regulation
Article 14 – paragraph 3 a (new)
Article 14 – paragraph 3 a (new)
3a. By way of derogation from paragraph 1 and paragraph 2, the crypto- asset service provider shall be exempted from the requirement to provide the information listed in this Article for transfers of crypto-assets if it can demonstrate that it has implemented technical measures having an equivalent object or effect as requirement in this Article, allowing the provider to achieve the objectives of this Regulation and effectively prevent money laundering and terrorist financing.
Amendment 260 #
Proposal for a regulation
Article 15 – paragraph 2 – subparagraph 1 – introductory part
Article 15 – paragraph 2 – subparagraph 1 – introductory part
By way of derogation from Article 14(1), transfers of crypto-assets not exceeding EUR 15 000 that do not appear to be linked to other transfers of crypto-assets which, together with the transfer in question, exceed EUR 15 000, shall be accompanied by at least the following information:
Amendment 270 #
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. In the case of transfers of crypto- assets exceeding EUR 15 000, whether those transfers are carried out in a single transaction or in several transactions which appear to be linked, before making the crypto-assets available to the beneficiary, the crypto-asset service provider of the beneficiary shall verify the accuracy of the information on the beneficiary referred to in paragraph 1 on the basis of documents, data or information obtained from a reliable and independent source, without prejudice to the requirements laid down in Articles 83 and 84 of Directive (EU) 2015/2366.
Amendment 277 #
Proposal for a regulation
Article 16 – paragraph 3 – introductory part
Article 16 – paragraph 3 – introductory part
3. In the case of transfers of crypto- assets not exceeding EUR 15 000 that do not appear to be linked to other transfers of crypto-asset which, together with the transfer in question, exceed EUR 15 000, the crypto-asset service provider of the beneficiary shall only verify the accuracy of the information on the beneficiary in the following cases: